It'd be somebody that drives the creative vision for the franchise, essentially coordinating all the creative teams. What Lucas was doing before, though perhaps not directing.
There isn't really a position like it at the moment. Kathleen Kennedy brings in individuals that pitch ideas, she focuses on producing, with a team of people led by Pablo Hildago having to make sure it's on brand and fits together. Which is perhaps why the Disney era feels a little hodge podge, there isn't a guiding visionary setting the tone.
I think recent examples of creative directors (even if they're not called that) of franchises are Colin Treverrow with Jurassic World, JJ Abrams with Star Trek movies, and Justin Lin with Fast & Furious.